KCS serves as the native token for KuCoin, which made its debut in 2017. It was designed as a profit-sharing token, enabling traders to extract value from the exchange. Initially introduced as an ERC-20 token, it operates on the Ethereum network and is compatible with most Ethereum wallets. The total KCS supply was set at 200 million coins, with plans to buy back and burn tokens until only 100 million remain. Once KuCoin's decentralized trading platform is fully launched, KCS will act as the principal asset for KuCoin's decentralized financial services and also function as a governance token for the community in the future.
KuCoin has prioritized "Empowering KCS," aiming to transform it into a standout product beyond a mere token, which will diversify the advantages available to KCS holders. Over time, KCS will serve as the lynchpin of the entire KuCoin ecosystem. As developments like DEX and KuChain progress, KCS will also become the foundational fuel and universal token for KuCoin's future decentralized offerings. Additional details are anticipated soon.
What Sets KuCoin Token Apart?
The KCS Bonus is widely seen as an excellent method for generating passive income. Users possessing over 6 KCS are eligible for a daily dividend, sourced from 50% of KuCoin's daily trading fee income. This KCS Bonus serves as a distinct incentive structure for KCS holders and participants within the KuCoin ecosystem. The rewards a user receives are influenced by the volume of KCS they own and the trading activity on the KuCoin Exchange.
What Is the Purpose of KCS?
Beyond being distributed as dividends, KCS functions as a utility token to cover trading fees on the KuCoin Exchange, granting users discounts of up to 80%. KCS also facilitates participation in token sales on KuCoin Spotlight and the LockDrop/BurningDrop on the Pool-X platform. Additionally, KCS tokens have several other uses within the platform. For example, KCS holders can achieve KuCoin VIP status, eliminating the need for substantial BTC trading volume to benefit from reduced maker and taker fees. KCS can also be used for various payments, such as shopping, booking hotels, purchasing gaming gear, and more.
What Is a KCS Burn?
The initial supply of KCS was set at 200 million. KuCoin, along with the KCS team, regularly repurchases KCS from the market and burns them every quarter. The quantity of KCS burned is determined by the quarterly trading volume on the KuCoin Exchange. As a result, the circulating supply of KCS is decreasing, with an eventual target of 100 million.
How Is the KuCoin Token Network Protected?
KuCoin employs an advanced encryption protocol to ensure user data and transaction information remain confidential and protected from others.
The system is built on a multi-cluster and multi-layered architecture, capable of handling multiple transactions simultaneously, which guarantees the stability of the system during each transaction.
Who Are the People Behind the KuCoin Token?
The KuCoin Exchange is a cryptocurrency trading platform based in Singapore, launched on September 15, 2017. It was co-founded in 2013 by a team including COO Eric Don, marketing director Jack Zhu, president of business operations John Lee, operations and maintenance director Kent Li, chief legal consultant Linda Lin, CEO Michael Gan, and CTO Top Lan.
How Many KuCoin Tokens (KCS) Are Currently in Circulation?
As of February 2021, the circulating supply of KuCoin Tokens (KCS) stands at 80,118,638 KCS, with a maximum supply of 170,118,638 KCS.
Where Can You Purchase KuCoin Tokens (KCS)?
KuCoin Token (KCS) is available for trading on the following exchanges:
* KuCoin
* BitMax
* ProBit Exchange
For those interested in learning how to trade Bitcoin, all necessary information can be found here.
